Repossession advice please

[katytaty]

Hi all
Just after some advice as never had this happen before.
Husband bought works van June 2021. Cost £9990. Part ex his old one for £2000 so balance of £7990. On finance, paid x1 payment (about £220) unfortunately had to be repossessed September 2021.
Heard nothing at all until now when received a solicitor's letter to pay 'fees' ( no detailed breakdown) of £4995.00.

Is this about right? I had read if the resale of the van did not reach the balance payable the liable for the shortfall but this seems a large amount of shortfall. Not disputing payment of fees but the amount seems excessive in relation to the outstanding balance.
Advice appreciated as ever.

 

[simon field]

Hi all
Just after some advice as never had this happen before.
Husband bought works van June 2021. Cost £9990. Part ex his old one for £2000 so balance of £7990. On finance, paid x1 payment (about £220) unfortunately had to be repossessed September 2021.
Heard nothing at all until now when received a solicitor's letter to pay 'fees' ( no detailed breakdown) of £4995.00.

Is this about right? I had read if the resale of the van did not reach the balance payable the liable for the shortfall but this seems a large amount of shortfall. Not disputing payment of fees but the amount seems excessive in relation to the outstanding balance.
Advice appreciated as ever.

I don’t understand. Why is a solicitor involved?

 

[katytaty]

I don’t understand. Why is a solicitor involved?

The solicitors letter advises they have been instructed to recover the 'above mentioned account' on behalf of XXX XXX Ltd. (Don't think I can say the actual finance company on this site)
Just states this is the full outstanding balance due.

Since the van was actually repossessed we haven't heard a thing from the finance company at all, although expected to get a letter for some fees, including tow truck to take the van away. But, nothing until this solicitors letter from their 'debt collection, litigation and recovery ' dept.

 

[simon field]

Phone them up and ask for an explanation?

 

[katytaty]

Phone them up and ask for an explanation?

Yes , we will do anyway!

 

[simon field]

That’s what I’d do anyway!

 

[JEREMY HAWKE]

This is standard procedure Im not sure about the breakdown of costs but these repos van go to auction where they go for next to nothing just to get some money back for the finance company .
No buyer s going to take much of a risk on a van that nobody knows anything about

 

[MBE2017]

Make sure you use the phrase alledged debt of £xxxxx, never admit to anything until you have all the facts.